Grant of Share Options

RNS Number : 2337W

Cellular Goods PLC

17 August 2022

 

Press release

17 August 2022

Cellular Goods PLC

('Cellular Goods' or 'the Company')

Grant of Share Options

Cellular Goods (LSE: CBX), a UK-based wellness company providing premium consumer products formulated with lab-produced cannabinoids, announces that the Board has granted an award of a total of 2,350,000 ordinary shares of £0.001 each in the Company ("Options") to the following individuals.

Nikhil Vijayan, Chief Supply Chain Officer, who joined the Company in March 2022, has been granted Options over 2,000,000 ordinary shares with the Options priced at 6.35p per ordinary share. Philippa Bealey, Marketing Director, who joined the Company in June 2022, has been granted Options over 350,000 ordinary shares with the Options priced at 4.1p per ordinary share.

The exercise prices were determined based on the spot price for Cellular Goods' shares at the time Mr Vijayan and Ms Bealey accepted their respective employment offers. The Options will vest over three years, with a one-year cliff, so that 12/36^th of the shares vest on the one-year anniversary of the start date, and thereafter 1/36^th of the shares vest each month, so that 100% of the shares will have vested three years from the start date.

The grant of the Options is designed to motivate and retain Mr Vijayan and Ms Bealey as key employees of the Company and align their interests with those of the Company's shareholders.

For further information please contact:

Cellular Goods
Anna Chokina Chief Executive Investor Relations	via Tancredi [phone] [e-mail]
Tennyson Securities
Corporate Broker Peter Krens	[phone]
Novum Securities
Corporate Broker Colin Rowbury Jon Belliss	[phone]
Tancredi Intelligent Communication
Media Relations Helen Humphrey Gabriela Amaya Garcia Charlie Hobbs [e-mail]	[phone] [phone] [phone]

Note to editors

About Cellular Goods PLC:

Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Function Better, Feel Better and Look Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD ingestible and topical athletic recovery products, with the first products launched in December 2021. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com

 

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